MERRIMACK, NH - (July 22, 2008) - Treatment for cellulite is a healthcare holy grail – second only (in this author’s opinion) to a cure for male pattern baldness. As the bane of women the world over, interest in the space is hearty.
Elemé Medical has developed the FDA-cleared SmoothShapes system, a proprietary technology (dubbed Photomology) to treat the underlying causes of cellulite. Photomology combines laser energy with mechanical massage and vacuum to improve the appearance of the skin surface, but only temporarily.
The company, private and venture-backed, raised $18 million this week in a “Series C” financing led by L Capital Partners. The round also included Hambrecht & Quist.
In a multicenter, prospective, randomized and controlled clinical study of the SmoothShapes system, 81% patients treated showed reduction in subcutaneous fat in the ‘treated’ versus ‘untreated’ leg. Most patients found the treatment comfortable and 80% wanted to continue “ongoing maintenance treatment”.
What’s better than a cure for cellulite? A solution that requires ongoing treatment!
Targeted markets include plastic surgeons, dermatologists, OB/GYN and primary care specialists, medi-spas, aesthetic clinics and health clubs. In 2006, the body shaping market generated $4.5 billion in device sales, procedures and fees. By 2011, the market could grow to $8.1 billion, says Michael Moretti, in his Global Body Shaping Market Analysis, published in 2006. Expansion will be “driven both by rising demand from consumers and expanding supply from practitioners,” says Moretti.
The newly raise funds will be used to commercialize the SmoothShapes System and also to further the company’s pipeline of body shaping technologies.